Shiba Inu futures flow plunges 6,700% as traders scale back exposure

Shiba Inu futures experienced significant volatility this past week, as data from Coinglass revealed $10.39 million in inflows and $10.60 million in outflows over a three-day period. This activity resulted in a net futures flow of negative $207,230, marking a sharp dive of 6,700.36%. The price of Shiba Inu shifted rapidly, briefly reaching $0.000004844 between Tuesday and Wednesday before plummeting following a broader cryptocurrency market selloff. By Thursday, liquidations across the crypto sector surpassed $1 billion, driving SHIB’s price down by 5% to $0.00000446. Subsequent market turbulence on Saturday saw SHIB fall further to $0.00000455 before a modest recovery.

Source: CoinTurk News